Sunday, November 16, 2014

The Obama Fan Club

In Tuesday's Tampa Bay Times a political cartoon seems to give credit to Obama for low employment, a soaring stock market, and gas prices among other things. Similarly, some of the Obama Fan Club make the same claims. However, an analysis shows that give credit to Obama is misplaced.

First, the real unemployment rate is approximately 12.6% and not 5.8% as claimed in the newspaper and other liberal sources. The real employment rate takes into account those individuals who have given up looking for jobs but who are available for work and those individuals who are forced to work part-time jobs because they can't find full-time jobs. A 12.6% unemployment rate - which is about the best he has done in his terms of office - is certainly not a grand accomplishment.

Second, giving Obama credit for the "soaring stock market" ignores some critical facts. Because of persistent economic problems the Fed has engaged in a policy of quantitative easing that has held interest rates at all time lows. Companies have been able to refinance debt and to borrow at record low rates. As a result of artificially low interest rates the stock market has boomed as it always has when rates go lower. It will be interesting to see what happens when the Fed slows down or stops its quantitative easing policy. Further, the Fed policy has had an adverse impact on retirees many of whom are on fixed income and rely on interest on bonds as income. These individuals have seen their bonds called in and have had to replace them with lower interest rate bonds. Another example of the Obama Fan Club giving him credit for something the did not do.

Finally, it is a joke to give credit to Obama for $3 a gallon gas. Keep in mind that the price of gas was approximately $1.79 a gallon when he took office and was well over $3 a gallon for much of his presidency. Again the Obama Fan Club didn't get its facts straight.

Yes, Obama has accomplished quite a bit during his presidency. We have persistent unemployment. A health care plan that is a disaster. A country more divided than ever. A country that is no longer respected because of his weak foreign policies. A country that has no sane energy policies. Yes, he has accomplished a lot but these are not accomplishments that should result in lavish praise.

Conservative Commentary by Jim Pirretti

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Ron Pavia said...

This is a great tip for figuring out which of your friends are liars and cheats. They are the one's who seem to know a curiously large number of people who lie and cheat, but it's also a warning to keep your friends at a distance. Couldn't this advice apply to our President Barack Hussein Obama?

BigParm said...

How much longer are Americans willing to tolerate a thuggish government "growing more tyrannical every day"?

Alabama said...

Too many Voters are just plain ignorant to have re-elected this person. We have never seen another administration that was more corrupt & deceitful than this BO one we are witnessing right now.